March 24, 2023

Cambodia Allows 100% Private Investment in High-Speed Railway

Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of Kingdom of Cambodia, has affirmed that Cambodia allowed the private sector to invest 100% in the new high-speed railway linking Phnom Penh capital of Cambodia to Ho Chi Minh City of Vietnam.

The Premier made the affirmation while receiving here this morning a visiting French delegation led by H.E. Olivier Becht, Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad, Attached to the Minister for Europe and Foreign Affairs of the French Republic, H.E. Eang Sophalleth, Personal Assistant to Samdech Techo Hun Sen told reporters after the meeting.

At the same time, the Prime Minister encouraged the private sector to invest in the upgrading of the two existing rail lines under BOT (Build, Operate, Transfer) format.

H.E. Olivier Becht expressed French investors’ trust in investing in Cambodia thanks to the Kingdom’s 20-year economic growth record, continued reform creating a conducive environment for investment, and large middle-income population.

In this regard, the French delegation decided to work with Cambodia to seek investment in high-speed rail; water, land and air transport; construction; energy and other sectors, he underlined, requesting Samdech Techo Hun Sen’s recommendations on priority areas.

In reply, the Premier said Cambodia is encouraging investment in high-tech industries, processing industry with Cambodian raw materials such as cashew, rubber, cassava and paddy rice, etc. for local demand and export.

For energy, Samdech Techo Hun Sen said Cambodia is using about 62 percent of clean energy and attracting more investment, but the country did not approve the establishment of new coal-fired power plant or hydropower dams across the Mekong River.

Source: Agency Kampuchea Press